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>> steve, you were right on the money with the jack lew prediction. you and i had this conversation, but i just wonder, you know, there's this antagonistic relationship between the white house and business. >> right. >> there were a handful of business guys in the mix that wanted the job. larry fink. would it be sort of better as a perception from the market or perception of business to put a business guy in there to help the relationship, help the togetherness of business in washington so we actually get some job creation going? what's your take on this choice? >> i don't disagree with the signal that could have been sent had somebody else been chosen. >> exactly. >> no doubt about that. it could have been an olive branch to the business community. i think that's for sure, and president obama did have several candidates who he could have chosen from in that regard. >> right. >> so i think that's very important, but i think right now president obama says, you know what? i've got a problem with congress. i've got a problem with the debt ceiling. let me
>> steve, you were right on the money with the jack lew prediction. you and i had this conversation, but i just wonder, you know, there's this antagonistic relationship between the white house and business. >> right. >> there were a handful of business guys in the mix that wanted the job. larry fink. would it be sort of better as a perception from the market or perception of business to put a business guy in there to help the relationship, help the togetherness of business in...
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but jack lew is opposite of that. he thinks he las the set of skills he needs among candidates to replace jack lew as chous chief of staff. one source tells me set leading candidate. we will see if that announcement is made tomorrow as is jack lew for treasury. >> if jack lew is secretary treasury, it'll look something like this, whatever that is. accidentally, tim geithner had a different signature but changed it for the green back. ma maybe jack lew will do the same. >> the power the new treasury hassle have the power to shape. but is this is real risk? fresh off a multiyear run at tcw, first off, congratulations of being a self-employed business man. >> thank you, very much. >> now all of the bills fall to you. >> yes. >> but it is always ladies first. >> glad to hear it. first off, jack lew, no doubt his commitment to dc. my problem is his commitment to dc. he only served out of d.c. one year in the hedge fund department. is he the right man for the job? >> listen, i think you raise an important point. i think wha
but jack lew is opposite of that. he thinks he las the set of skills he needs among candidates to replace jack lew as chous chief of staff. one source tells me set leading candidate. we will see if that announcement is made tomorrow as is jack lew for treasury. >> if jack lew is secretary treasury, it'll look something like this, whatever that is. accidentally, tim geithner had a different signature but changed it for the green back. ma maybe jack lew will do the same. >> the power...
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i have the greatest respect for jack lew. i know him as a man exceptional judgment, calm under pressure, with an extraordinary record of experience over decades spent at the center of american economic policy. he is committed to defending the safety net for the elderly and poor. he understands what it takes to create the conditions for stronger economic growth and broader economic opportunity. and he understands that to govern responsibly, is to govern with the recognition that we have limited fiscal resources. now like jack, i've spent my professional life in this world of public policy and public service, and as all of you know, our families carry a large share of the burdens we assume in public life. and i feel incredibly fortunate that my wife, carol, and my family, have been willing to allow me to do this. and i thank them for their support and their patience and i understand their occasional impatience. i want to express my admiration and my appreciation for the women and men of the treasury department. those who came t
i have the greatest respect for jack lew. i know him as a man exceptional judgment, calm under pressure, with an extraordinary record of experience over decades spent at the center of american economic policy. he is committed to defending the safety net for the elderly and poor. he understands what it takes to create the conditions for stronger economic growth and broader economic opportunity. and he understands that to govern responsibly, is to govern with the recognition that we have limited...
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>>> the cabinet reshuffle continues, and next in the hot seat, jack lew. it is wednesday, january 9th, and this is "now." >>> joining me today, "rolling stones" eric bates, heather mcgee, former traveling press secretary for the obama campaign jen psaki, and the effortlessly elegant msnbc contributor jonathan capehart of "the washington post." at a time of great fiscal uncertainty and belt tightening, president obama is poised to nominate as the next treasury secretary a man who brings his lunch to work every day, a cheese sandwich and apple to be precise, president obama will reportedly tap jack lew tomorrow to replace timothy geithner. lew would take over on the eve of another debt ceiling battle. in round one during the summer of 2011, boehner's top staffer called lew's debt ceiling negotiations disrespectful and dismissive. according to david plouffe, that is because jack knows the numbers and republicans couldn't pull a fast one. two names are being floated to replace lew, dennis mcdonagh, currently his deputy national security adviser and ron klain.
>>> the cabinet reshuffle continues, and next in the hot seat, jack lew. it is wednesday, january 9th, and this is "now." >>> joining me today, "rolling stones" eric bates, heather mcgee, former traveling press secretary for the obama campaign jen psaki, and the effortlessly elegant msnbc contributor jonathan capehart of "the washington post." at a time of great fiscal uncertainty and belt tightening, president obama is poised to nominate as the...
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well, for heaven sakes, jack lew was on wall street for a year. he ran the alternative investments at citibank and he got $1 million bonus to that and $1 million cash compensation on top of that. i don't begrudge him that. i'm a free market guy. but his boss begrudges people who made money and lew did that in one year. if you live by the sword, you die by the sword. >> well, again, he is in sync with his boss, president obama, and i think obama's willing to overlook those transgressions as long as you see the world the way he does. and in terms of governor dean, i almost think i'm re-hearing herbert hoover about the need to fight the deficit by raising taxes. raising taxes -- >> and cutting spending. >> raising taxes is not the way to go. and you look at europe, they're raising taxes, japan is raising taxes and the result is a disaster. as you know, if we had normal growth economy, say 4%, which shouldn't be hard to do after what we've been through, you'd get an extra $400 billion, $500 billion right off the bat, instant, painless. >> howard, what
well, for heaven sakes, jack lew was on wall street for a year. he ran the alternative investments at citibank and he got $1 million bonus to that and $1 million cash compensation on top of that. i don't begrudge him that. i'm a free market guy. but his boss begrudges people who made money and lew did that in one year. if you live by the sword, you die by the sword. >> well, again, he is in sync with his boss, president obama, and i think obama's willing to overlook those transgressions...
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i don't think jack lew brings that to the table. whether or not the other attributes he has make up for that we'll have to wait and see. >> i was going to ask you if you didn't end your report with that, i was going to ask you to say what you just said, what you said to me off camera -- and i'll tell you, when you said it, i'll tell you what struck me. sometimes i think you're implying that if the administration needs to sell something to maybe the private sector, it helps to say, you know, geithner's for it. or it helps to say paulson was for it. it helps to say robert reuben is for this. and in this case they won't necessarily be able to make that. but they don't -- see where i disagree with you, i don't think they care that they don't sell it. they don't need to sell it. >> i don't care if they care. they should care. it does matter. we are entering really interesting times when it comes to a need to rethink our corporate tax system, rethink our individual tax system. rethink entitlements. all of these things. it would have been,
i don't think jack lew brings that to the table. whether or not the other attributes he has make up for that we'll have to wait and see. >> i was going to ask you if you didn't end your report with that, i was going to ask you to say what you just said, what you said to me off camera -- and i'll tell you, when you said it, i'll tell you what struck me. sometimes i think you're implying that if the administration needs to sell something to maybe the private sector, it helps to say, you...
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let me say more about jack lew, we call this one, you don't know jack. >> of course you do. >> this is a financial education. beginning with harvard and georgetown. but that never disqualified anybody. tip o'neill 93 and '94, special to president clinton. and that's what john harwood was talking about. incredible expertise with the budget. moving on in 2006, new york university as executive advice president. then a stint at citigroup. first at global wealth management and next in a controversy by the way that comes up with a large bonus he got while citigroup was getting tart money. finally reenter the administration. i'm sure the administration will make a cot of, as secretary in charge of of resource management. and second stint of omb. then white house chief of staff to the present. let's look at positive. some private sector banking experience. that ends up being a negative. close to the president, you have treasury secretaries with more or less connections to the white house. . finally ton negatives, is this the guy you want in office during financial crisis like you had with geit
let me say more about jack lew, we call this one, you don't know jack. >> of course you do. >> this is a financial education. beginning with harvard and georgetown. but that never disqualified anybody. tip o'neill 93 and '94, special to president clinton. and that's what john harwood was talking about. incredible expertise with the budget. moving on in 2006, new york university as executive advice president. then a stint at citigroup. first at global wealth management and next in a...
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jack lew is an inside man. as long as the world doesn't implode, americans much less the world will pay little attention to who heads the u.s. treasury. what do you think? >> what do i think? it's really very simple. simple once again. it's not as easy as it's now a domestic issue with the budget battle. if only it were. this is all about who the man is and what does he bring to the table. if we look back at treasury secretaries, paul o'neill and john snow, they were major men in their own industries. but they didn't -- >> nobody remembers. >> nobody remembers them and they were not huge successes. lloyd benson even. look at what he was. a great man in his field. but did not bring much to the table. now you look at paulson, geithner, summers, ruben, morgan, you don't remember him any more than i do, but the fact is they were the men who actually were able to make the treasury work. now, there's no doubt jack lew comes with the authority of the president and the white house. but he has to go further than that. h
jack lew is an inside man. as long as the world doesn't implode, americans much less the world will pay little attention to who heads the u.s. treasury. what do you think? >> what do i think? it's really very simple. simple once again. it's not as easy as it's now a domestic issue with the budget battle. if only it were. this is all about who the man is and what does he bring to the table. if we look back at treasury secretaries, paul o'neill and john snow, they were major men in their...
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in his opinion there's no better person sitting in treasury to tackle that than jack lew. >> i do want to point out one thing as we talk about diversity, and we had jen saki on the show yesterday. she said while the president has a very diverse -- >> a woman who works for president obama. >> and she made the point that we have a pipeline problem. if you actually look at sort of where women are at -- we did a little researching as we are want to do on this television program -- 50% -- 50.8% of the country is female, but they're only 18.9% of congress is female. that's up. that's still 19% basically. only 4.2% of fortune 1,000 ceos, rona, are women. when we talk about why are the women who are there -- why is the word deputy in front of their names? it's because in top level positions, i mean, you still have a problem in this country and around the world with women in leadership positions. >> it's interesting. the ceo numbers are particularly striking, and i think that that represents the fact that there just has not been enough culture shift in corporate america. i mean, women's roles a
in his opinion there's no better person sitting in treasury to tackle that than jack lew. >> i do want to point out one thing as we talk about diversity, and we had jen saki on the show yesterday. she said while the president has a very diverse -- >> a woman who works for president obama. >> and she made the point that we have a pipeline problem. if you actually look at sort of where women are at -- we did a little researching as we are want to do on this television program --...
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he is talking about jack lew to be secretary of the treasury are. there is not even one controversial episode in jack lew's entire life history. but senator jeff sessions who is not even a member of the committee that will definitely vote to confirm jack lew is trying to make his confirmation controversial perhaps because he still hasn't gotten over the fact that the senate judiciary committee voted against his nomination to be a federal judge in 1986. joy read the jack lew thing it doesn't get less controversial than this. poor little jeff sessions isn't going to get to ask him questions in the hearing because he isn't on the hear. >> this is like confirmation theater. darn it they were nominated by barack obama. they have the bam of stain on them. lew's issue is his weird signature. >> right. eugene robinson. you have seen this stuff over the years. take us through what is going to happen with haegle. you have the secretary of defense. something that bill clinton did. and republicans are going no, we don't like this guy. i think what is going to h
he is talking about jack lew to be secretary of the treasury are. there is not even one controversial episode in jack lew's entire life history. but senator jeff sessions who is not even a member of the committee that will definitely vote to confirm jack lew is trying to make his confirmation controversial perhaps because he still hasn't gotten over the fact that the senate judiciary committee voted against his nomination to be a federal judge in 1986. joy read the jack lew thing it doesn't get...
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if you look at jack lew's career, it's easy to say he's a creature of government. worked in the obama administration, worked for tip o'neill back in the day. but when you look at his experience before he came to the government with the obama white house, he was at citi and got $1 million salary and $1 million bonus. this irks not only conservatives who think obama's being hypocritical to nominate someone this kind of banking background after wagging his finger at the wealthy all year. but almost frustrates and infuriates the left because they would like to see someone more progressive in the treasury role. >> more progressive. but what about this? he was the chief operating officer of a proprietary trading operation of about $54 billion. now, that has been outlawed under dodd/frank. so once again, i see hypocrisy from team obama. >> you've already seen some senators on capitol hill such as chuck grassley of iowa raise questions about what jack lew did at citi. and there's been a huffington post investigation about how lew's unit within the company was tied to hedge
if you look at jack lew's career, it's easy to say he's a creature of government. worked in the obama administration, worked for tip o'neill back in the day. but when you look at his experience before he came to the government with the obama white house, he was at citi and got $1 million salary and $1 million bonus. this irks not only conservatives who think obama's being hypocritical to nominate someone this kind of banking background after wagging his finger at the wealthy all year. but...
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and jack lew is in the middle of it. because democratic economic policies have not been well received by republicans in congress, and because jack lew once irked mitch mcconnell, he is, we're supposed to believe, not going to get the top tier cabinet position. we scoff in your general direction. if those do not sound like reasons substantive enough to block a presidential cabinet nomination, that is because those are not reasons substantive enough to block a presidential cabinet nomination. at least historically speaking, those are not the kind of things that keep a person out of a top tier job like that. as "the new york times" calculated today, in the history of the u.s. senate, the senate has confirmed over 500 cabinet nominations. over 500. it has denied nine out of more than 500 in gnat senate history. the last time a cabinet nomination was denied was almost 25 years ago when the senate voted down poppy bush's nominee for defense john tower after what would later be described in his obituary of public allegations of
and jack lew is in the middle of it. because democratic economic policies have not been well received by republicans in congress, and because jack lew once irked mitch mcconnell, he is, we're supposed to believe, not going to get the top tier cabinet position. we scoff in your general direction. if those do not sound like reasons substantive enough to block a presidential cabinet nomination, that is because those are not reasons substantive enough to block a presidential cabinet nomination. at...
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jack lew officially nominated as treasury chief. lew is known for his role in the being acrimonious talks in 2011. what could it mean this time. >> tiffany disappoints again with weaker holiday sales. there was weakness in the americas, strength in asia. so how much of a read through to the rest of retail is this earnings report? >>> nokia shares soaring this morning after a bullish outlook for the first quarter. >>> and herbal life's big day to defend itself against bill ackman's damning allegations. we'll have the latest and the ceo join us later in the show. >>> well, today president obama is set to nominate white house chief of staff jack lew as his next treasury secretary. succeeding tim geithner. lew has been budget director in both the obama and clinton administrations. he will pray a major role of course in negotiations over the debt ceiling and potential spending cuts. the president will make his announcement at 1:30 eastern. it's an event in the east room at the white house. i have to say off the bat just because he's a fo
jack lew officially nominated as treasury chief. lew is known for his role in the being acrimonious talks in 2011. what could it mean this time. >> tiffany disappoints again with weaker holiday sales. there was weakness in the americas, strength in asia. so how much of a read through to the rest of retail is this earnings report? >>> nokia shares soaring this morning after a bullish outlook for the first quarter. >>> and herbal life's big day to defend itself against...
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jack lew understands budgets. the fact of the matter is, this is a guy that can speak the right language when the biggest crisis in washington right now is the fact that there's an absence of a budget. >> okay. so, ali, that's a great point. when i heard you talk about this before it was the one thing that you said that i kind of disagreed with. look, we have a fiscal crisis on our hands, we have a debt crisis. if you look at his performance in the last few years in terms of running the budget office and being the chief of staff for the president, the debt crisis has gotten much worse. i don't look at that reference and say, gee, this is a guy who is really going to fix the problem and i do think what we need in washington is he's been in washington in and out of government for 25 years and i guess my philosophy is, why not bring in some new faces, granted they are going to have the president's philosophy but maybe looking at new approaches to bringing this enormous debt down. >> steve, do you remember his record
jack lew understands budgets. the fact of the matter is, this is a guy that can speak the right language when the biggest crisis in washington right now is the fact that there's an absence of a budget. >> okay. so, ali, that's a great point. when i heard you talk about this before it was the one thing that you said that i kind of disagreed with. look, we have a fiscal crisis on our hands, we have a debt crisis. if you look at his performance in the last few years in terms of running the...
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jack lew, the current white house chief of staff. the nomination not without controversy, as most are not these days. mr. lew's reputation truly precedes him in this case. some in the senate as seeing him overly rigid -- the senate and the house on capitol hill see him overly rigid. wyoming senator john bros. sew is chairman of the foreign policy committee. nice to have you back on the program. >> thank you, jenna. jenna: i was looking at a report from bob woodward, speaker boehner apparently told woodward that he asked the president to keep jack lew at the white house, to not send him to capitol hill because he was tired of hearing the word "no" so many times. what's your reaction to this nomination if. >> well, jack lew is very partisan, and he's very political. but the fundamental problem, jenna, are are the president's policies and the president's addiction to spending. to me, that's the bigger issue. wewe are $16 trillion in debt, t is the greatest threat to our national security, and yet jack lew and the president think that sp
jack lew, the current white house chief of staff. the nomination not without controversy, as most are not these days. mr. lew's reputation truly precedes him in this case. some in the senate as seeing him overly rigid -- the senate and the house on capitol hill see him overly rigid. wyoming senator john bros. sew is chairman of the foreign policy committee. nice to have you back on the program. >> thank you, jenna. jenna: i was looking at a report from bob woodward, speaker boehner...
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perhaps the best clues for that are in an op-ed from two years ago from jack lew. inis entitled "the easy cuts are behind us." the piece absolutely advocates getting out of our debt and getting the debt and deficit under control. but it does so by discussing some cuts in defense and then examples of scaling back things like something called the great lakes restoration initiative. not eliminating it, just cutting it by maybe a quarter of its present cost. a sav
perhaps the best clues for that are in an op-ed from two years ago from jack lew. inis entitled "the easy cuts are behind us." the piece absolutely advocates getting out of our debt and getting the debt and deficit under control. but it does so by discussing some cuts in defense and then examples of scaling back things like something called the great lakes restoration initiative. not eliminating it, just cutting it by maybe a quarter of its present cost. a sav
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so who is jack lew and what would he do at the treasury department? that is next. >>> plus, the breaking news of aig's decision not to sue the government over its bailout. ali velshi has a lot to say. he's back and he's next. pack your bags, we'll leave tonight. uhh, it's next month, actually... eddie continues singing: to tickets to... paradiiiiiise! no four. remember? whoooa whooaa whooo! you know ronny, folks who save hundreds of dollars by switching to geico sure are happy. and how happy are they jimmy? happier than eddie money running a travel agency. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> things are looking up for the u.s. economy. let's hope our politicians don't bring it down. from the cnn money newsroom, in new york, i'm ali velshi. this is your money. walmart reverses itself on gun violence meeting. do you know who jack lew is? you will soon. more nightmares on the dreamliner. and america is on track to prosper if we just let it. but, first, that walmart story. the change of heart. vice president jo
so who is jack lew and what would he do at the treasury department? that is next. >>> plus, the breaking news of aig's decision not to sue the government over its bailout. ali velshi has a lot to say. he's back and he's next. pack your bags, we'll leave tonight. uhh, it's next month, actually... eddie continues singing: to tickets to... paradiiiiiise! no four. remember? whoooa whooaa whooo! you know ronny, folks who save hundreds of dollars by switching to geico sure are happy. and how...
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and jack lew, what an interesting signature this man has. if jack lew, president obama's nominee for treasury secretary gets the gig this scribble may be on all of your money. lew may have the most illegible signature of all time. look at it. it's nothing but a doodle. like nine loops in a row. >> that is something my 2-year-old would do. >> on treasury secretary. yesterday president obama assured the world that the american dollar is, in fact, safe. >> i had never noticed jack's signature. and when this was highlighted yesterday in the press, i considered rescinding my offer to appoint him. jack assures me that he is going to work to make at least one lett lett letter legible, should he be confirmed as secretary of treasury. >> this is what his signature would actually look like on the dollar bill. that's just awful. >> is it third grade when they focus on your handwriting skills and penmanship? maybe he can sit in on a class. >> the treasury secretary wants to audit your class. >>> nine minutes past the hour. yesterday we brought you the l
and jack lew, what an interesting signature this man has. if jack lew, president obama's nominee for treasury secretary gets the gig this scribble may be on all of your money. lew may have the most illegible signature of all time. look at it. it's nothing but a doodle. like nine loops in a row. >> that is something my 2-year-old would do. >> on treasury secretary. yesterday president obama assured the world that the american dollar is, in fact, safe. >> i had never noticed...
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jack lew came to d.c. in 1973, 40 years ago and has experience all over town at the office of management and budget, at the state department, in the private sector at citibank and new york university. a white house official passed this along they said throughout his career jack lew has proven a successful and effective advocate for middle class families who can build bipartisan consensus to implement proved policies. jeff sessions from alabama says he does not think jack lew's nomination will be successful. he is steamed that lew appeared before congress two years ago and testified that president obama's budget would not add to the national debt. sessions says and this is a quote. at this time of unprecedented slow growth, high unemployment and huge deficits we need a secretary of treasury that the american people, the congress, and the world will know is up to the task of getting america on the path to prosperity, not the path to decline. jack lew is not that man. if lew's nomination is successful his sig
jack lew came to d.c. in 1973, 40 years ago and has experience all over town at the office of management and budget, at the state department, in the private sector at citibank and new york university. a white house official passed this along they said throughout his career jack lew has proven a successful and effective advocate for middle class families who can build bipartisan consensus to implement proved policies. jeff sessions from alabama says he does not think jack lew's nomination will...
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yesterday i told you about a silly concern that's popped up about jack lew being nominated for secretary of the treasury. his signature if confirmed. that, that's the signature that would end up at the bottom of our paper money. look at that thing. that can't be. at today's nomination ceremony president obama didn't let that topic of his crazy signature slide. >> i had never noticed jack's signature, and when this was highlighted yesterday in the press, i considered rescinding my offer to appoint him. jack assures me that he is going to work to make at least one letter legible in order not to debase our currency should he be confirmed as secretary of the treasury. >> well, there is some hope. tim geithner had a messy signature in his past, but on the bill it's completely legible. looks like alexander hamilton. >>> next, aig has thought better about suing the federal government over the terms of the 2008 bank bailout. yes, the same taxpayer funded bailout that brought them $200 billion and saved them from bankruptcy. anyway, before the news of the potential lawsuit, aig launched an ad cam
yesterday i told you about a silly concern that's popped up about jack lew being nominated for secretary of the treasury. his signature if confirmed. that, that's the signature that would end up at the bottom of our paper money. look at that thing. that can't be. at today's nomination ceremony president obama didn't let that topic of his crazy signature slide. >> i had never noticed jack's signature, and when this was highlighted yesterday in the press, i considered rescinding my offer to...
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that is not going to be a good enough answer for jack lew. bill: we'll get sessions on the air starting next week. we'll see who else is on his side. stephen hayes, thank you. >> thanks, bill. bill: in washington with us today. martha, what's next? martha: what's next is this. we're waiting for new numbers. they're expected to come out in the next hour or so to the extent of this deadly spread of the flu outbreak and there are some new questions whether enough is being done to protect schools with all this. we'll tell you the length of some schools are going to now to disinfect. bill: more than washing your hand, huh? if you saw a pair of men walking through your neighborhood carrying assault rifles what would you do? two guys exercising their second amendment rights here. >> we were educating, letting people know they can come up and talk to us. we're very friendly, said hi to people. we let people know that guns are not bad things. ♪ [ male announcer ] some day, your life will flash before your eyes. make it worth watcng. introducing the
that is not going to be a good enough answer for jack lew. bill: we'll get sessions on the air starting next week. we'll see who else is on his side. stephen hayes, thank you. >> thanks, bill. bill: in washington with us today. martha, what's next? martha: what's next is this. we're waiting for new numbers. they're expected to come out in the next hour or so to the extent of this deadly spread of the flu outbreak and there are some new questions whether enough is being done to protect...
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>> well, jack lew a favorite of president obama because he has serious knowledge of the federal budgets. he has a no drama style. he has been serving this president in a very high profile capacity since president obama took office as white house chief of staff and before that as the director of the office of management and budget. lew has served as director of those two big jobs. bottom line is we are told that he is well-trusted well regarded here at the white house, shep? >> probably not a household name everywhere but well known in washington, jack lew. >> no question about that certainly with those two high profile jobs here at the obama administration over the past four years has been engaged in some tough negotiations with lawmakers on capitol hill. this photo we are showing you is from new year's eve. is he on the right wearing glasses and a blue tie. and bottom line the top republican on the senate budget committee says while he offered this prediction about the confirmation battle. >> it is a bumpy confirmation process. i think the american people need to know that the secretar
>> well, jack lew a favorite of president obama because he has serious knowledge of the federal budgets. he has a no drama style. he has been serving this president in a very high profile capacity since president obama took office as white house chief of staff and before that as the director of the office of management and budget. lew has served as director of those two big jobs. bottom line is we are told that he is well-trusted well regarded here at the white house, shep? >>...
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jack lew has a clean slate. let's hope he uses it to get america out of this hole. before we go tonight, let's look at the day on wall street. it was a winner of a session today once again, this market wants to go higher and it did. up 80 points on the industrial average. the nasdaq up about 16 points, technology, one of the winning sectors and the s&p higher by better than 11 points. that will do it. hope you follow my on twitter and google plus. have a fantastic night. i'll see you tomorrow. but first, stay with cnbc. here's "fast money," it begins right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. banking on financials. wells fargo kicks off earnings season tomorrow. will the banks be big winners again in 2013? lumia lift? nokia surges on better than expected sales. should you be buying the hype? and debt threat. the queen of wall street gives her take on how the debt ceiling debate will effect your bond portfolio. first, our top story. stocks jumping to five-years highs. so, we ask, were you a buyer or seller today?
jack lew has a clean slate. let's hope he uses it to get america out of this hole. before we go tonight, let's look at the day on wall street. it was a winner of a session today once again, this market wants to go higher and it did. up 80 points on the industrial average. the nasdaq up about 16 points, technology, one of the winning sectors and the s&p higher by better than 11 points. that will do it. hope you follow my on twitter and google plus. have a fantastic night. i'll see you...
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i think jack lew is going to be the same. what was interesting is the geithner treasury has not been especially public treasury, but the idea with jack lew, it will be even less public than that. >> good point. lew not a friend of the camera, as even the president suggested in that presser yesterday. >> exactly. >> thanks a lot, steve lies plan. >> planes, trains and automobiles, dow transports rising, hitting the third consecutive interday high. big names like goldman getting more bullish on the sector. is a run-up almost over? we're talking tranies a little later on. robert frank is coming to the post for the million-dollar minute. >> melissa, i've got the hottest new toy for billionaires. and why this toy made some big news this week. that's coming up on "squawk on [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at
i think jack lew is going to be the same. what was interesting is the geithner treasury has not been especially public treasury, but the idea with jack lew, it will be even less public than that. >> good point. lew not a friend of the camera, as even the president suggested in that presser yesterday. >> exactly. >> thanks a lot, steve lies plan. >> planes, trains and automobiles, dow transports rising, hitting the third consecutive interday high. big names like goldman...
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that is, of course, not assuming if jack lew is confirmed. geithner is probably gone either way but he will stay on a couple more weeks for the president. so tim geithner will stay on until january 25th. >> the taxing amount of time it will take us to do our taxes this year. it is today's thing that makes you go hhmmm. >> and has gold lost its shine? or is now a golden opportunity to buy? stick around. [ male announcer s joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. ♪ [ male announcer ] some day, your life will flash before your eyes. make it worth watching. introducing the 2013 lexus ls. an entirely new
that is, of course, not assuming if jack lew is confirmed. geithner is probably gone either way but he will stay on a couple more weeks for the president. so tim geithner will stay on until january 25th. >> the taxing amount of time it will take us to do our taxes this year. it is today's thing that makes you go hhmmm. >> and has gold lost its shine? or is now a golden opportunity to buy? stick around. [ male announcer s joe woods' first day of work. and his new boss told him two...
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our paper money could soon have a bunch of scwilgs on it if jack lew get the gig. puts the united states signature on all the green backs. that's the current secretary tim geithner's john hancock. here is lu's signature. see that? from a recent white house memo. it's a bunch of scwilgs skillings. geithner had to change his signature from the one you can see here so that people could read his name on the currency. after all, if you get to sign all the money, the least you can do is read your name. by now we have all heard that soda is not good for you. it turns out it might also be making us sad. sad soda. new research that suggests soda drinkers are more likely to be depressed. not really depressing. seems more stupid to me but you'll decide. (dog) larry,larry,larrryyy. why take exercise so seriously,when it can be fun? push-ups or sprints? what's wrong with fetch? or chase? let's do this larry! ooh, i got it, i got it! (narrator) the calorie-smart nutrition in beneful healthy weight... incles grains and real chicken, because a healthy dog is a playful dog. beneful
our paper money could soon have a bunch of scwilgs on it if jack lew get the gig. puts the united states signature on all the green backs. that's the current secretary tim geithner's john hancock. here is lu's signature. see that? from a recent white house memo. it's a bunch of scwilgs skillings. geithner had to change his signature from the one you can see here so that people could read his name on the currency. after all, if you get to sign all the money, the least you can do is read your...
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lew's signature has all those loops. they are actually zeros and that's how much he's going to add to our debt. >> you don't know that for sure. we're going to have that debate on the debt ceiling in the next month. you don't think we're going to see any spending cuts? >> we have been inculcated throughout our history that they will increase the debt ceiling without ever addressing the real problem which is, correct, 100%, maria, it is spending. >> unless the market forces the hand, too, because one thing our leaders do respond to is the stock market, whereas in the early '80s it was the bond vigilantes that ruled the root i think these guys get terrified when the stock market starts going down because they -- you know, from the way they calibrate things, you don't have bonds to do it so now you have the stock market. >> if you get money supply growing at 12% and bonds are in the biggest bubble in the history of mankind, the money is going to go into stocks. that's the path of least resistance. >> maria, what you have to
lew's signature has all those loops. they are actually zeros and that's how much he's going to add to our debt. >> you don't know that for sure. we're going to have that debate on the debt ceiling in the next month. you don't think we're going to see any spending cuts? >> we have been inculcated throughout our history that they will increase the debt ceiling without ever addressing the real problem which is, correct, 100%, maria, it is spending. >> unless the market forces the...
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first president obama is just nominated jacob jack lew to be the next treasury secretary. lew has been the chief of staff and described as a consummate washington insider. he has done two stints at the office of management and budget. an old cog eel of his told me yet experience makes him the perfect choice for the job right now. >> it is described as the central nervous system and everything of consequence goes through it. it coordinates the branch for the president like the chief operating officer role. in that, jack has been exposed to every type of policy and issue and regulation. it's a huge gambit of issues and terrain that he is an expert on the depth he can bring on a number of issues, especially economic policy. >> that makes lew more than qualified to negotiate the debt debates and republicans in congress. wall street doesn't like him so much. who cares what wall street thinks. to many that makes him more palatable. the president made the right choice with tim geitner because the world was teetering on financial collapse. he knew the ins and outs of wall street a
first president obama is just nominated jacob jack lew to be the next treasury secretary. lew has been the chief of staff and described as a consummate washington insider. he has done two stints at the office of management and budget. an old cog eel of his told me yet experience makes him the perfect choice for the job right now. >> it is described as the central nervous system and everything of consequence goes through it. it coordinates the branch for the president like the chief...
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. >>> president obama nominating jack lew to be the next secretary of the treasury. the president said it almost didn't happen when he saw what would be the new signature on the dollar of the wallet. i considered rescinding my offer to appoint him. jack assures me he is going to work to make at least one letter legible in order not to de face our currency. >> if that silly loopy signature looks familiar it looks like the top of a hostess cupcake. too bad you can't still buy them. >> curbing gun violence. >> their talks had more to do with attacking the amendment than the violence. we have more on this. hi there, peter. >> hi heather. the national rifle association was not happy after the meeting with the gun task force yesterday. the statement made it clear they do not intend to take the task force's recommendations laying douvenlt here it is. we were disappointed with how little this meeting had to do with keeping our children safe and how much it had to do with an agenda to attack the second amendment while claiming no policy's proposals would be prejudice. they sp
. >>> president obama nominating jack lew to be the next secretary of the treasury. the president said it almost didn't happen when he saw what would be the new signature on the dollar of the wallet. i considered rescinding my offer to appoint him. jack assures me he is going to work to make at least one letter legible in order not to de face our currency. >> if that silly loopy signature looks familiar it looks like the top of a hostess cupcake. too bad you can't still buy them....
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we'll talk to you about if you're feelings of jack lew in a moment. on the deal that we did. you see everybody's taken the zeros off of what we owe and everybody's seen that now. i guess we're making $23,000 a year, we're spending $38,000. so we're adding $16,000 to our credit card bill every year. and we already owe $160,000 on our credit card bill. and the fiscal cliff deal cut $38 off of our expenses or something when you take everything off. is that -- >> actually worse than that. >> how can it be worse? >> actually our cliff bill was an absolute embarrassment to the united states of america. let me clarify. if we had gone over the cliff, it would have been an "f." and a total failure of our system. but when you analyze the bill, it was an "f" on spending. we actually increased spending. we didn't reduce 13e7bding. we increased spending. >> all the democrats tell me that there was already a trillion dollars of spending cuts that -- i didn't -- >> that was from august 2011. okay, but what i'm saying is, if you just look at this bill in isolation, it increased spending. it
we'll talk to you about if you're feelings of jack lew in a moment. on the deal that we did. you see everybody's taken the zeros off of what we owe and everybody's seen that now. i guess we're making $23,000 a year, we're spending $38,000. so we're adding $16,000 to our credit card bill every year. and we already owe $160,000 on our credit card bill. and the fiscal cliff deal cut $38 off of our expenses or something when you take everything off. is that -- >> actually worse than that....
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is jack lew's signature. before he worked at the white house he worked at hostess as a cupcake icer. >> is that your kigt or are you testing to see if the pen works? the only way that you're allowed to have that as your signature is if your name is boing boing boing boing boing. >> perhaps our future treasury secretary. >> that's so funny. thanks, john, appreciate it. >>> lance armstrong, is he going to admit to doping? he's sitting down with oprah next week, his first interview since he was stripped of his seven tour de france titles and banned for life. the rumor is he's going to use that interview to admit he took performance enhancing drugs for years. howard kurtz host of "reliable choices" and lauren ashburn, editor-in-chief of "the daily gallow." nice to talk to both of you. do you think he has to confess if he's going to sit down with oprah? >> what else is he going to d is he going to talk about his family? he has to do something, right? but the problem is i don't think oprah is oprah anymore. do you
is jack lew's signature. before he worked at the white house he worked at hostess as a cupcake icer. >> is that your kigt or are you testing to see if the pen works? the only way that you're allowed to have that as your signature is if your name is boing boing boing boing boing. >> perhaps our future treasury secretary. >> that's so funny. thanks, john, appreciate it. >>> lance armstrong, is he going to admit to doping? he's sitting down with oprah next week, his...
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today you came up against the president's nominee for treasury secretary jack lew. why did you do that? >> well, jack is a decent guy. he's a smart guy. he's been in public service for a long time. but frankly, i am really tired of the president, and i support the president, continuing to appoint folks who come from wall street. we need people at the -- in the treasury department, secretary of treasury, who are going to have the guts to stand up to wall street. to ask why we are not, for example, breaking up the six largest financial institutions, ed, that have assets equivalent to 2/3 of the gdp of the united states. to ask questions about how we got into this recession in the first place, which has everything to do with the greed and recklessness and illegal behavior on wall street. to ask why it is there are people watching the show paying 25% interest rates on their credit cards. those are my concerns. we need somebody at the department of treasury who's going to have the guts to take on wall street and not simply come from wall street. >> senator, great to have
today you came up against the president's nominee for treasury secretary jack lew. why did you do that? >> well, jack is a decent guy. he's a smart guy. he's been in public service for a long time. but frankly, i am really tired of the president, and i support the president, continuing to appoint folks who come from wall street. we need people at the -- in the treasury department, secretary of treasury, who are going to have the guts to stand up to wall street. to ask why we are not, for...
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unclear if that's going to mean a seamless transition with the president's nominee jack lew since it seems unlikely at this point lew will be confirmed by the senate before geithner leaves. so maybe the deputy secretary will fill that gap. geithner, if he wants one, can have almost any finance job that he wants. he'll take at least six months to consider his option. they don't say whether or not he wants to go into finance. the question is what kind of job would be appropriate for geithner to take given that he was intimately involved in bank rescue operations over the past several years? and what kind of job could he take in the post-crisis world and still be eligible to come back into government if he wanted? fed chairman ben bernanke, he's expected to move on after his term expires in 2014, and geithner would clearly be someone the president would consider. according to sources, geithner wouldn't want the job but the president has been very successful in getting geithner to do things he hasn't wanted to, like stay on treasury for an extra year or two and geitner has been making ab
unclear if that's going to mean a seamless transition with the president's nominee jack lew since it seems unlikely at this point lew will be confirmed by the senate before geithner leaves. so maybe the deputy secretary will fill that gap. geithner, if he wants one, can have almost any finance job that he wants. he'll take at least six months to consider his option. they don't say whether or not he wants to go into finance. the question is what kind of job would be appropriate for geithner to...